Migdal buys 20% of Ashtrom rental housing unit
Ashtrom project in Tel Aviv Mishtala neighborhood credit: All In
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The insurance company is paying an estimated NIS 451 million for 20% of Ashtrom Residences for Rent Limited Partnership.
Ashtrom Group (TASE: ASHG), one of Israel’s largest companies in long-term rental housing, has signed a binding memorandum of understanding with Migdal Insurance and Financial Holdings (MGDL) for the sale of 20% of the rights in Ashtrom Residences for Rent Limited Partnership.
The consideration in the sale is estimated at NIS 451 million, on the basis of a net asset value of NIS 2.26 billion for Ashtrom Residences for Rent as reported by the partnership at the end of 2026.
Ashtrom Residences for Rent holds over 3,200 housing units at various stages of planning and construction. Among its main projects in long-term rentals are the Neve Ofer and Mishtala projects in Tel Aviv, the Neve Ayalon project in Or Yehuda, the Kiryat Hayovel project in Jerusalem, and the Neot Peres project in Haifa. Among projects at the planning stage is a neighborhood consisting of 1,189 units at Tel Hashomer.
Published by Globes, Israel business news - en.globes.co.il - on June 30, 2026.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2026.
Ashtrom project in Tel Aviv Mishtala neighborhood credit: All In